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USDL 08-0618
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EDT,
WEDNESDAY, MAY 7, 2008.
PRODUCTIVITY AND COSTS
First Quarter 2008, Preliminary
The Bureau of Labor Statistics of the U.S. Department of Labor today reported
preliminary productivity data—as measured by output per hour of all persons—for the first
quarter of 2008. The seasonally adjusted annual rates of productivity change in the first quarter
were:
1.9 percent in the business sector and
2.2 percent in the nonfarm business sector.
In both sectors, the productivity gains were due primarily to declines in hours worked. In
the business sector, output edged up 0.2 percent while hours fell 1.6 percent. In nonfarm
businesses, output rose 0.4 percent and hours declined 1.8 percent (seasonally adjusted annual
rates). In both sectors, productivity grew faster than in the fourth quarter of 2007, when output
per hour rose 0.9 percent in the business sector and 1.8 percent in the nonfarm business sector.
First quarter measures are summarized in table A and appear in detail in tables 1 through 5.
In manufacturing, productivity changes in the first quarter were:
4.1 percent in manufacturing,
2.3 percent in durable goods manufacturing, and
7.0 percent in nondurable goods manufacturing.
Manufacturing productivity growth in the first quarter reflected a 4.2 percent decline in
hours worked in the sector and an output decline of 0.3 percent. After revisions, manufacturing
productivity increased 4.2 percent in the fourth quarter of 2007. Output and hours in
manufacturing, which includes about 12 percent of U.S. business sector employment, tend to
vary more from quarter to quarter than data for the aggregate business and nonfarm business
sectors. First quarter measures are summarized in table A and appear in detail in tables 1
through 5.
2
Table A. Productivity and costs: Preliminary first quarter 2008 measures
(Seasonally adjusted annual rates)
Sector
Productivity
Output
Hours
Hourly
compensation
Real
hourly
compensation
Unit
labor
costs
Percent change from preceding quarter
Business
Nonfarm business
Manufacturing
Durable
Nondurable
1.9
2.2
4.1
2.3
7.0
0.2
0.4
-0.3
-0.5
-0.1
-1.6
-1.8
-4.2
-2.8
-6.6
4.2
4.4
6.7
6.6
6.5
-0.1
0.1
2.3
2.2
2.1
2.2
2.2
2.5
4.1
-0.4
-0.7
-0.7
-1.3
-1.2
-1.5
0.2
0.2
-1.3
-2.5
-0.2
Percent change from same quarter a year ago
Business
Nonfarm business
Manufacturing
Durable
Nondurable
3.2
3.2
4.1
5.5
2.8
2.6
2.6
2.1
3.6
0.4
-0.6
-0.6
-2.0
-1.8
-2.3
3.5
3.4
2.8
2.9
2.6
The data sources and methods used in the preparation of the manufacturing series differ
from those used in preparing the business and nonfarm business series, and these measures are
not directly comparable. Output measures for business and nonfarm business are based on
measures of gross domestic product prepared by the Bureau of Economic Analysis of the U.S.
Department of Commerce. Quarterly output measures for manufacturing reflect indexes of
industrial production independently prepared by the Board of Governors of the Federal Reserve
System. See Technical Notes for further information on data sources (page 8).
Business
Productivity in the business sector rose 1.9 percent in the first quarter of 2008, as output
grew 0.2 percent and hours of all persons at work in the sector—employees, proprietors, and
unpaid family workers—fell 1.6 percent (seasonally adjusted annual rates). The decrease in
hours was the largest since the second quarter of 2003, when they fell 2.1 percent. When the
first quarter of 2008 is compared to the first quarter of 2007, productivity in the business sector
grew 3.2 percent. This was the largest four quarter change since a 3.4 percent increase from the
second quarter of 2003 to the second quarter of 2004 (see tables A and 1).
Hourly compensation increased 4.2 percent during the first quarter of 2008 following a
3.7 percent rise in the previous quarter. Hourly compensation includes wages and salary
accruals, supplements, employer contributions to employee benefit plans, and taxes. Real hourly
compensation, which takes into account changes in consumer prices, decreased 0.1 percent in the
first quarter of 2008 after falling 1.3 percent in the fourth quarter of 2007.
3
Unit labor costs rose 2.2 percent in the first quarter of 2008, compared to a 2.8 percent
increase in the fourth quarter. Growth in unit labor costs is roughly equivalent to the change in
hourly compensation minus the change in output per hour. The implicit price deflator for the
business sector, which reflects changes in both unit labor costs and unit nonlabor payments, grew
at a 2.0 percent rate in the first quarter and 1.9 percent in the final quarter of 2007.
Nonfarm business
Productivity increased 2.2 percent in the nonfarm business sector in the first quarter of
2008 as output rose 0.4 percent and hours of all persons fell 1.8 percent (seasonally adjusted
annual rates). The decrease in hours was the largest since the first quarter of 2003, when hours
fell 2.3 percent, and followed a 1.6 percent decline in the previous quarter (see tables A and 2.)
Productivity in the nonfarm business sector grew 3.2 percent from the first quarter of
2007 to the first quarter of 2008, the largest four quarter change since a 3.8 percent increase
between the second quarters of 2003 and 2004.
Hourly compensation grew at a 4.4 percent annual rate in the first quarter of 2008; similar
to the fourth quarter rate of 4.6 percent. When the rise in consumer prices was taken into
account, real hourly compensation rose 0.1 percent in the first quarter following a 0.4 percent
decline in the fourth quarter of 2007.
Unit labor costs grew 2.2 percent in the first quarter of 2008 and 2.8 percent in the
previous quarter. The implicit price deflator for nonfarm business output increased 2.2 percent
in the first quarter of 2008 and 1.6 percent in the fourth quarter of 2007.
Chart 2. Unit Labor Costs, Nonfarm Business, all persons, 2001:1-2008:1
Chart 1. Output per Hour, Nonfarm Business, all persons, 2001:1-2008:1
2001:1-2007:4
Percent change
Percent change
12
12
From previous quarter, compound annual rate
10
From previous quarter, compound annual rate
10
From same quarter a year ago
8
8
6
6
4
4
2
2
0
0
-2
-2
-4
-4
-6
From same quarter a year ago
-6
2001
2002
2003
2004
2005
2006
2007
2008
2001
2002
2003
2004
2005
2006
2007
2008
Manufacturing
Productivity increased 4.1 percent in manufacturing in the first quarter of 2008 as output
decreased 0.3 percent and hours of all persons dropped 4.2 percent (seasonally adjusted annual
rates). This 4.2 percent hours decrease reflected a 2.8 percent decline in durable goods hours and
a 6.6 percent drop in hours worked in nondurable goods industries. Productivity rose 2.3 percent
in durable manufacturing and 7.0 percent in nondurable manufacturing.
4
The hourly compensation of all manufacturing workers increased 6.7 percent during the
first quarter of 2008 and real hourly compensation rose 2.3 percent (seasonally adjusted annual
rates). Because hourly compensation of manufacturing workers rose more rapidly than
productivity, unit labor costs increased in the first quarter, by 2.5 percent. Unit labor costs
increased 4.1 percent in durable goods manufacturing and fell 0.4 percent in nondurable goods
manufacturing.
Chart 3. Output per Hour, Manufacturing, all persons, 2001:1-2008:1
Chart 4. Unit Labor Costs, Manufacturing, all persons, 2001:1-2008:1
Percent change
Percent change
12
12
10
10
8
8
6
6
4
4
2
2
0
0
-2
-2
-4
-4
-6
-6
-8
From previous quarter, compound annual rate
From same quarter a year ago
-10
-8
From previous quarter, compound annual rate
-10
-12
From same quarter a year ago
-12
2001
2002
2003
2004
2005
2006
2007
2008
2001
2002
2003
2004
2005
2006
2007
2008
Fourth quarter and annual measures for nonfinancial corporations
Fourth quarter and annual 2007 measures of productivity and costs also were announced
today for the nonfinancial corporate sector (tables B, C, and 6). Output per all employee hour
grew 0.9 percent from the third to the fourth quarter of 2007 as output rose 0.9 percent and
employee hours were unchanged.
Table B. Nonfinancial corporations: Fourth quarter 2007 productivity and cost measures
(Seasonally adjusted annual rates)
Period
Productivity
2007 IV
0.9
2007 IV
1.8
Output
Hours
Real
Hourly
hourly
Unit
compen- compen- labor
sation
sation
costs
Percent change from preceding quarter
0.9
0.0
3.5
-1.4
2.6
Percent change from same quarter a year ago
2.1
0.3
3.4
-0.6
1.6
Unit
profits
Implicit
price
deflator
-16.9
0.3
-2.1
1.0
Hourly compensation increased 3.5 percent in the fourth quarter of 2007, leading to an
increase of 2.6 percent in unit labor costs. When consumer prices are taken into account, real
hourly compensation fell 1.4 percent. Unit profits fell 16.9 percent in the fourth quarter of 2007
and 10.2 percent in the previous quarter. The implicit price deflator increased 0.3 percent during
the fourth quarter of 2007 after falling 1.6 percent in the third quarter.
5
When the annual average for 2007 was compared with that for 2006, labor productivity
increased 1.4 percent in the nonfinancial corporate sector. In the previous six years, 2000
through 2006, output per hour increased an average of 2.6 percent per year. Output increased 2.1
percent in 2007, down from 3.0 percent in 2006, and hours rose 0.7 percent, compared with 2.2
percent during the previous year. (See table C.)
Table C. Nonfinancial corporations: Annual changes in productivity and related measures, 1998-2007
Measure
Productivity...........................
Output ...................................
Hours.....................................
Hourly compensation ............
Real hourly compensation.....
1998
1999
2000
3.4
5.7
2.2
5.9
4.5
3.7
6.0
2.3
4.9
2.8
3.9
5.2
1.3
7.1
3.6
Unit labor costs ..................... 2.4
Unit nonlabor costs ............... -0.2
Total unit costs...................... 1.7
Unit profits ............................ -11.2
Implicit price deflator ........... 0.0
2001 2002 2003 2004 2005 2006 2007
1.8
-0.9
-2.7
4.2
1.4
4.0
0.9
-3.0
3.6
1.9
3.8
2.2
-1.5
4.1
1.8
3.7
5.1
1.3
3.0
0.3
1.4
3.1
1.7
3.8
0.4
0.7
3.0
2.2
3.5
0.2
1.4
2.1
0.7
4.7
1.8
1.2
3.1
2.4
0.9
3.8
8.1
1.1
3.3
3.9
-5.8 -15.8 -24.3
0.3
1.2
1.3
-0.4
-1.6
-0.7
19.2
0.6
0.3 -0.7
0.2 -1.6
0.3 -0.9
12.1 31.8
1.2 2.0
2.4
2.7
2.4
6.6
2.9
2.8
1.4
2.4
5.5
2.8
3.2
1.1
2.6
-5.7
1.6
Hourly compensation grew 4.7 percent in 2007, and real hourly compensation increased
1.8 percent. The increase in hourly compensation was the largest in the series since 2000, when
it had increased 7.1 percent. Total unit costs in 2007 rose 2.6 percent, reflecting a 3.2 percent
increase in unit labor costs and a 1.1 percent increase in unit nonlabor costs. Unit profits fell 5.7
percent in 2007. This was the first decline since 2001, when the series fell 24.3 percent. The
implicit price deflator, which reflects both the unit costs and unit profits measures, rose 1.6
percent in 2007.
Revised measures
With this release, hours for all sectors were revised back to 2000 to incorporate updated
information on seasonal trends in Current Population Survey data on hours worked.
Employment was revised historically to exclude secondary jobs of self employed and unpaid
family workers in any month when they did not report hours worked in those jobs. Also
employment of manufacturing proprietors is now calculated using the number of persons
employed; previously it was the number of persons at work.
Output data for the manufacturing sectors also were revised. Annual output indexes are
constructed by BLS using data from the Bureau of the Census and the Bureau of Economic
Analysis (BEA), both the U.S. Department of Commerce, together with information on price
changes, primarily from the Bureau of Labor Statistics. These revisions begin with data for 1987
and incorporate revised information on intermediate inputs. (See USDL 08-0857, “Multifactor
Productivity Trends in Manufacturing for 2006,” May 1, 2008
(http://www.bls.gov/news.release/pdf/prod3.pdf). Quarterly changes in manufacturing output
6
and related measures also now reflect revised Indexes of Industrial Production, published by the
Board of Governors of the Federal Reserve System on March 28, 2008. Appendix tables 1-3
display quarterly and annual data for manufacturing, durable manufacturing, and nondurable
manufacturing beginning in 2003. Quarterly historical data are available on the BLS website.
Annual historical data for total manufacturing and its subsectors are presented in appendix
tables 4-6.
A revised seasonally adjusted Consumer Price Index Research Series, prepared by the
BLS Office of Prices and Living Conditions for the period 1978 to 2007, has been incorporated
into our consumer price series. As a result, measures of real hourly compensation for all sectors
were revised back to 1984. Complete quarterly and annual series are available on the BLS
website.
Previous and revised measures for the fourth quarter and annual average of 2007 in the
business, nonfarm business, and manufacturing sectors are compared in table D. In the business
and nonfarm business sectors, productivity was revised down slightly in the fourth quarter,
primarily due to downward revisions to output. Unit labor costs in these sectors were revised up
from the increases reported March 5.
Table D. Previous and revised productivity and related measures
Quarterly percent change at seasonally adjusted annual rate
Sector
Productivity
Output
Hours
Hourly
compensation
Real
hourly
compensation
Unit
labor
costs
Fourth quarter 2007
Business:
Previous........................
Revised.........................
Nonfarm business:
Previous........................
Revised.........................
Manufacturing:
Previous........................
Revised.........................
1.0
0.9
0.2
0.1
-0.7
-0.7
3.6
3.7
-1.3
-1.3
2.7
2.8
1.9
1.8
0.3
0.2
-1.6
-1.6
4.6
4.6
-0.5
-0.4
2.6
2.8
2.3
4.2
-1.7
-0.4
-3.9
-4.4
4.4
4.3
-0.6
-0.6
2.1
0.2
Annual average 2007
Business:
Previous........................
Revised.........................
Nonfarm business:
Previous........................
Revised.........................
Manufacturing:
Previous........................
Revised.........................
1.9
1.9
2.3
2.3
0.4
0.4
5.0
5.0
2.3
2.1
3.1
3.1
1.8
1.8
2.3
2.3
0.5
0.5
4.9
4.9
2.3
2.1
3.1
3.1
3.7
3.4
2.0
1.6
-1.7
-1.7
5.4
5.4
2.7
2.5
1.6
1.9
7
Fourth quarter productivity growth in the manufacturing sector was higher than reported
March 5. Hours fell more than reported in March, and had the largest decline since the third
quarter of 2003. The upward revision to productivity resulted in a downward revision to unit
labor costs.
The 2007 annual average measures of real hourly compensation for the business, nonfarm
business, and manufacturing sectors were revised downward due to a revision in the Consumer
Price Index Research series. The 2007 annual averages in the manufacturing sector showed a
downward revision in output, which led to a downward revision in productivity and an upward
revision in unit labor costs.
Next release date
The next release of Productivity and Costs is scheduled for 8:30 AM EDT,
Wednesday, June 4, 2008. First quarter measures for nonfinancial corporations and revised first
quarter measures for business, nonfarm business, and manufacturing will be released at that time.
8
TECHNICAL NOTES
Labor Hours: Hours data for the labor productivity and cost measures include hours for all
persons working in the sector—wage and salary workers, the self-employed and unpaid family
workers. The primary source of hours and employment data is the BLS Current Employment
Statistics (CES) program, which provides monthly survey data on the number of jobs held by
wage and salary workers in nonfarm establishments. The CES also provides average weekly
paid hours of production and nonsupervisory workers in these establishments. Weekly paid
hours are adjusted to hours at work using data from the National Compensation Survey (NCS).
The BLS Hours at Work survey, conducted for this purpose, was used for earlier years. The
Office of Productivity and Technology estimates average weekly hours at work for
nonproduction and supervisory workers using information from the Current Population Survey
(CPS), the CES, and the NCS.
Data from the CPS are used for farm labor, nonfarm proprietors, and nonfarm unpaid
family workers. Estimates of labor input for government enterprises are derived from the CPS,
the CES, and the National Income and Product Accounts (NIPA) prepared by the Bureau of
Economic Analysis (BEA) of the Department of Commerce.
The CES measures jobs, counting a person who is employed by two or more
establishments at each place of employment. In contrast, the CPS features measures of
employment that count each person only once and classify each person according to his or her
primary job; hours worked at all jobs by that person accrue to his or her primary job. However,
the CPS also collects more detailed information on employment and hours worked at primary
jobs and all other jobs, separately. The BLS productivity measures use the more detailed
information on employment and hours to assign all hours worked to the correct industrial sector
and avoid duplicating hours data from the CES.
Output: Business sector output is an annual-weighted index constructed after excluding from
gross domestic product (GDP) the following outputs: general government, nonprofit institutions,
and private households (including owner-occupied housing). Corresponding exclusions also are
made in labor inputs. Business output accounted for about 78 percent of the value of GDP in
2000. Nonfarm business, which also excludes farming, accounted for about 77 percent of GDP in
2000.
Annual indexes for manufacturing and its durable and nondurable goods components are
constructed by deflating current-dollar industry value of production data from the U.S. Bureau of
the Census with deflators from the BLS. These deflators are based on data from the BLS
producer price program and other sources. The industry shipments are aggregated using annual
weights, and intrasector transactions are removed. Quarterly manufacturing output measures are
based on the index of industrial production prepared monthly by the Board of Governors of the
Federal Reserve System, adjusted to be consistent with annual indexes of manufacturing sector
output prepared by BLS. Durables include the following 3-digit NAICS industries: wood
product manufacturing; nonmetallic mineral product manufacturing; primary metal manufacturing; fabricated metal product manufacturing; machinery manufacturing; computer and electronic product manufacturing; electrical equipment and appliance manufacturing; transportation
equipment manufacturing; furniture and related product manufacturing; and miscellaneous
manu-facturing. Nondurables include: food manufacturing; beverage and tobacco product
manufac-turing; textile mills; textile product mills; apparel manufacturing; leather and allied
product manufacturing; paper manufacturing; printing and related support activities; petroleum
and coal products manufacturing; chemical manufacturing; and plastics and rubber products
manufacturing.
Nonfinancial corporate output is an annual-weighted index calculated on the basis of the
costs incurred and the incomes earned from production. The output measure excludes the
following outputs from GDP: general government; nonprofit institutions; private households;
unincorporated business; and those corporations classified as offices of bank holding companies,
9
offices of other holding companies, or offices in the finance and insurance sector. Nonfinancial
corporations accounted for about 54 percent of the value of GDP in 2000.
Productivity: These productivity measures describe the relationship between real output and the
labor time involved in its production. They show the changes from period to period in the
amount of goods and services produced per hour. Although these measures relate output to hours
at work of all persons engaged in a sector, they do not measure the specific contribution of labor,
capital, or any other factor of production. Rather, they reflect the joint effects of many
influences, including changes in technology; capital investment; level of output; utilization of
capacity, energy, and materials; the organization of production; managerial skill; and the
characteristics and effort of the work force.
Labor Compensation: Estimates of labor compensation by major sector, required for measures
of hourly compensation and unit labor costs, are based primarily on employee compensation data
from the NIPA, prepared by the BEA. The compensation of employees in general government,
nonprofit institutions and private households are subtracted from compensation of domestic
employees to derive employee compensation for the business sector. The labor compensation of
proprietors cannot be explicitly identified and must be estimated. This is done by assuming that
proprietors have the same hourly compensation as employees in the same sector. The quarterly
labor productivity and cost measures do not contain estimates of compensation for unpaid family
workers.
Unit Labor Costs: The measures of unit labor costs in this release describe the relationship
between compensation per hour and productivity, or real output per hour, and can be used as an
indicator of inflationary pressure on producers. Increases in hourly compensation increase unit
labor costs; labor productivity increases offset compensation increases and lower unit labor
costs.
Presentation of the data: The quarterly data in this release are presented in three ways; as
index number series where 1992=100, as percent changes from the corresponding quarter of the
previous year, and as percent changes from the previous quarter presented at a compound annual
rate. Annual data are presented both as index number series and percent changes from the
previous year.
The index numbers and rates of change reported in the productivity and costs news
release are rounded to one decimal place. All percent changes in this release and on the BLS
web site are calculated using index numbers to three decimal places. These index numbers are
available at the BLS web site, http://www.bls.gov/data/home.htm, or by contacting the BLS
Division of Major Sector Productivity.
(Telephone 202-691-5606 or email
[email protected])
Information in this release will be made available to sensory-impaired individuals upon
request. Voice phone: 202-691-5606; Federal Relay Service number: 1-800-877-8339.
10
(Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
Unit nonImplicit
and
hour of
of all
tion per
tion per
labor
labor pay- price
quarter
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
--------------------------------------------------------------------------------------------------------Indexes 1992=100
2006
2007
I
II
III
IV
r136.3
r136.7
r136.1
r136.5
163.2
164.2
164.4
165.5
r119.7
r120.1
r120.8
r121.2
r168.3
r168.1
r168.7
r173.5
r120.8
r119.6
r118.9
r122.7
r123.4
r123.0
r123.9
r127.1
r133.0
r136.6
r136.7
r132.0
127.0
128.0
128.7
128.9
ANNUAL
r136.4
164.3
r120.5
r169.6
r120.5
r124.4
r134.6
128.2
I
II
III
IV
r136.8
r138.1
r140.3
r140.6
165.6
167.3
169.7
r169.7
r121.0
r121.2
r120.9
r120.7
r176.1
r177.1
r178.7
r180.4
r123.5
r122.8
r123.1
r122.7
r128.7
r128.3
r127.4
r128.3
r132.8
r135.4
r137.1
r137.3
130.2
130.9
131.0
r131.7
ANNUAL
r139.0
r168.1
r121.0
r178.1
r123.0
r128.2
r135.7
r131.0
2008
I
141.3
169.8
120.2
182.2
122.6
129.0
137.9
132.3
--------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2006
2007
I
II
III
IV
r2.4
r1.0
r-1.7
r1.2
5.5
2.5
0.6
2.6
r3.0
1.5
2.3
r1.4
7.1
-0.5
1.5
r11.9
r5.2
r-3.9
r-2.4
r13.6
r4.6
-1.5
r3.2
r10.6
r0.0
11.3
r0.4
r-12.9
2.8
3.3
2.1
0.8
ANNUAL
1.0
3.1
2.1
4.0
0.7
2.9
2.9
2.9
I
II
III
IV
r0.9
3.8
r6.4
r0.9
0.2
4.4
5.7
r0.1
r-0.8
0.5
r-0.7
-0.7
r6.2
r2.4
3.7
r3.7
r2.5
r-2.1
r0.9
-1.3
r5.2
r-1.4
r-2.6
r2.8
r2.3
r8.2
r5.2
r0.6
4.1
2.2
0.3
r1.9
ANNUAL
1.9
2.3
0.4
5.0
r2.1
3.1
r0.8
2.2
2008
I
1.9
0.2
-1.6
4.2
-0.1
2.2
1.7
2.0
--------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2006
2007
I
II
III
IV
1.5
1.8
0.2
r0.7
3.8
3.6
2.4
2.8
2.3
1.8
2.2
r2.1
4.2
4.0
2.8
4.9
0.5
0.0
r-0.5
2.9
2.7
r2.1
2.6
4.1
3.8
r5.2
3.5
r-0.7
3.1
3.3
3.0
2.2
ANNUAL
1.0
3.1
2.1
4.0
0.7
2.9
2.9
2.9
I
II
III
IV
r0.4
1.0
3.1
3.0
1.5
1.9
3.2
2.6
1.1
0.9
0.1
-0.4
r4.7
5.4
6.0
4.0
r2.2
r2.7
r3.5
r0.0
4.3
4.3
2.8
r0.9
-0.1
r-0.8
r0.3
r4.0
2.6
2.3
1.8
r2.1
ANNUAL
1.9
2.3
0.4
5.0
r2.1
3.1
r0.8
2.2
2008
I
3.2
2.6
-0.6
3.5
-0.7
0.2
3.9
1.6
--------------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
11
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
Unit nonImplicit
and
hour of
of all
tion per
tion per
labor
labor pay- price
quarter
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
--------------------------------------------------------------------------------------------------------Indexes 1992=100
2006
2007
I
II
III
IV
r135.2
r135.7
r135.1
r135.6
163.4
164.4
164.7
165.7
r120.8
r121.2
r121.9
r122.2
r167.0
r167.0
r167.6
r172.5
r119.9
r118.8
r118.1
r122.0
r123.5
r123.1
r124.0
r127.2
r134.9
r138.8
r138.6
r133.4
127.7
128.9
129.4
129.5
ANNUAL
r135.4
164.5
r121.5
r168.5
r119.7
r124.5
r136.4
128.9
I
II
III
IV
r136.1
r137.0
r139.0
r139.6
165.9
167.6
169.9
r170.0
r121.9
r122.4
r122.3
r121.8
r175.2
r175.8
r177.2
179.2
r122.8
r121.9
r122.0
r121.9
r128.8
r128.4
r127.5
r128.4
r133.8
r136.4
r137.9
r137.8
130.6
131.3
131.3
r131.9
ANNUAL
r137.9
r168.4
r122.1
r176.9
r122.2
r128.3
r136.5
r131.3
2008
I
140.4
170.2
121.2
181.2
121.9
129.1
138.5
132.6
--------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2006
2007
I
II
III
IV
r2.2
1.3
r-1.6
r1.4
5.7
2.4
0.8
2.6
r3.4
1.1
r2.4
r1.1
6.9
0.0
1.5
12.3
r4.9
r-3.5
r-2.5
r14.0
r4.5
-1.3
r3.1
r10.7
r0.6
12.1
r-0.5
r-14.2
3.0
3.7
1.6
0.3
ANNUAL
1.0
3.2
2.2
3.9
0.6
2.9
3.1
3.0
I
II
III
IV
r1.3
r2.7
r6.0
r1.8
0.3
4.2
5.6
r0.2
r-0.9
r1.5
r-0.4
-1.6
6.4
1.3
r3.3
4.6
r2.7
r-3.2
0.6
r-0.4
r5.0
-1.3
r-2.5
r2.8
r1.3
r7.9
r4.5
r-0.3
3.6
2.1
0.1
r1.6
ANNUAL
1.8
2.3
0.5
4.9
r2.1
3.1
r0.0
1.9
2008
I
2.2
0.4
-1.8
4.4
0.1
2.2
2.2
2.2
--------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2006
2007
I
II
III
IV
1.4
1.6
0.1
r0.8
3.8
3.6
2.4
2.8
2.4
2.0
2.3
r2.0
4.2
3.8
2.7
5.0
r0.4
r-0.1
-0.6
3.0
2.8
2.2
2.6
r4.2
4.1
5.7
3.6
r-1.0
3.3
3.5
3.0
2.2
ANNUAL
1.0
3.2
2.2
3.9
0.6
2.9
3.1
3.0
I
II
III
IV
0.6
r1.0
r2.8
2.9
1.5
2.0
3.2
2.6
0.9
1.0
0.3
r-0.4
4.9
5.3
5.8
3.9
r2.4
r2.5
r3.3
r-0.1
4.3
4.3
2.8
0.9
-0.8
r-1.7
-0.5
r3.3
2.3
1.9
1.5
r1.8
ANNUAL
1.8
2.3
0.5
4.9
r2.1
3.1
r0.0
1.9
2008
I
3.2
2.6
-0.6
3.4
-0.7
0.2
3.5
1.5
--------------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7 2008
r=revised
Source: Bureau of Labor Statistics
12
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2006
2007
I
II
III
IV
r172.6
r172.7
r174.5
r175.4
r147.2
r147.4
r148.0
r147.4
r85.3
r85.4
r84.8
r84.0
r172.4
r170.5
r171.6
r177.4
r123.8
r121.3
r120.9
r125.5
r99.9
r98.7
r98.4
r101.1
ANNUAL
r173.8
r147.5
r84.9
r173.0
r122.8
r99.5
I
II
III
IV
r177.0
r178.7
r180.6
r182.5
r147.8
r149.6
r151.2
r151.0
r83.5
r83.7
r83.7
r82.8
r181.7
r181.6
r181.9
r183.8
r127.4
r125.9
r125.2
r125.0
r102.7
r101.6
r100.7
r100.7
ANNUAL
r179.7
r149.9
r83.4
r182.3
r125.9
r101.4
2008
I
184.3
150.9
81.9
186.8
125.7
101.4
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2006
2007
I
II
III
IV
r-0.6
r0.2
r4.3
r2.2
r1.8
r0.6
r1.6
r-1.7
r2.4
r0.4
r-2.5
r-3.8
9.1
-4.4
2.7
14.1
r7.1
r-7.7
r-1.3
r15.8
r9.7
r-4.6
r-1.5
r11.6
ANNUAL
r1.1
r1.8
r0.8
2.8
-0.5
r1.7
I
II
III
IV
r3.6
r3.8
r4.5
r4.2
r1.2
r4.9
r4.3
r-0.4
r-2.3
1.0
-0.2
r-4.4
10.3
-0.4
0.7
r4.3
r6.4
r-4.8
-2.0
-0.6
r6.4
r-4.1
r-3.6
r0.2
ANNUAL
r3.4
r1.6
-1.7
5.4
r2.5
r1.9
2008
I
4.1
-0.3
-4.2
6.7
2.3
2.5
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2006
2007
I
II
III
IV
r1.5
r0.4
r0.9
r1.5
r2.4
r2.1
r2.3
r0.6
r0.9
r1.7
r1.4
r-0.9
3.8
1.5
0.7
5.1
0.0
-2.4
-2.6
3.1
r2.2
r1.1
r-0.2
r3.6
ANNUAL
r1.1
r1.8
r0.8
2.8
-0.5
r1.7
I
II
III
IV
r2.6
r3.5
r3.5
r4.0
r0.4
r1.5
r2.1
r2.5
-2.1
-1.9
-1.3
r-1.5
5.4
6.5
6.0
3.7
r2.9
r3.7
r3.6
r-0.3
r2.8
r2.9
r2.4
r-0.4
ANNUAL
r3.4
r1.6
-1.7
5.4
r2.5
r1.9
2008
I
4.1
2.1
-2.0
2.8
-1.3
-1.3
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
13
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2006
2007
I
II
III
IV
r198.8
r198.9
r201.7
r202.4
r179.6
r180.5
r181.1
r180.1
r90.3
r90.7
r89.8
r89.0
r168.1
r166.1
r167.3
r173.6
r120.7
r118.2
r117.9
r122.8
r84.6
r83.5
r82.9
r85.8
ANNUAL
r200.4
r180.3
r90.0
r168.7
r119.8
r84.2
I
II
III
IV
r204.4
r207.9
r210.9
r214.3
r180.3
r183.9
r186.9
r187.0
r88.2
r88.4
r88.6
r87.3
r177.6
r177.5
r177.5
r179.8
r124.5
r123.0
r122.2
r122.3
r86.9
r85.4
r84.2
r83.9
ANNUAL
r209.4
r184.5
r88.1
r178.1
r123.0
r85.1
2008
I
215.6
186.8
86.7
182.7
123.0
84.8
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2006
2007
I
II
III
IV
r-1.8
r0.3
r5.7
r1.4
r0.4
r2.1
r1.2
r-2.1
r2.3
r1.8
r-4.3
r-3.4
11.6
-4.7
2.9
r16.0
r9.6
r-8.0
r-1.1
r17.8
r13.7
r-5.0
r-2.7
r14.5
ANNUAL
r2.2
r3.3
r1.1
3.4
0.1
r1.2
I
II
III
IV
r3.9
r7.1
r6.0
r6.6
r0.4
r8.2
r6.8
r0.3
r-3.4
1.0
0.8
r-6.0
9.6
r-0.3
0.1
r5.4
r5.7
-4.7
-2.6
r0.4
r5.4
r-6.9
r-5.6
r-1.2
ANNUAL
r4.5
r2.3
r-2.0
r5.6
r2.7
r1.1
2008
I
2.3
-0.5
-2.8
6.6
2.2
4.1
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2006
2007
I
II
III
IV
r3.2
r2.0
r2.2
r1.4
r4.8
r4.6
r3.6
r0.4
r1.6
2.5
r1.4
r-1.0
4.2
2.1
1.1
6.2
r0.4
-1.8
r-2.2
4.1
r1.0
r0.1
r-1.1
r4.7
ANNUAL
r2.2
r3.3
r1.1
3.4
0.1
r1.2
I
II
III
IV
r2.8
r4.5
r4.6
r5.9
r0.4
r1.8
r3.2
r3.9
r-2.4
r-2.5
r-1.3
r-1.9
5.7
6.9
6.1
r3.6
r3.2
r4.1
r3.7
-0.4
r2.8
r2.3
r1.5
r-2.2
ANNUAL
r4.5
r2.3
r-2.0
r5.6
r2.7
r1.1
2008
I
5.5
3.6
-1.8
2.9
-1.2
-2.5
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
14
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2006
2007
I
II
III
IV
r148.0
r148.4
r149.0
r150.3
r115.0
r114.8
r115.4
r115.1
r77.7
r77.3
r77.4
r76.6
178.3
r176.4
r177.6
r181.9
r128.0
r125.6
r125.1
r128.7
r120.4
r118.8
r119.2
r121.1
ANNUAL
r148.9
r115.1
r77.2
r178.6
r126.8
r119.9
I
II
III
IV
r151.2
r151.4
r152.7
r152.9
r115.6
r116.0
r116.4
r116.1
r76.5
r76.6
r76.3
r75.9
r187.1
r186.9
r187.8
r189.0
r131.2
r129.6
r129.3
r128.5
r123.7
r123.5
r123.0
r123.6
ANNUAL
r152.0
r116.0
r76.3
r187.7
r129.7
r123.5
2008
I
155.4
116.1
74.7
192.0
129.2
123.5
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2006
2007
I
II
III
IV
r1.0
r1.1
r1.5
r3.5
r3.6
r-0.9
r2.2
r-1.1
2.6
-1.9
r0.6
r-4.4
4.4
-4.2
2.7
10.2
r2.5
r-7.5
r-1.3
r11.9
r3.4
r-5.2
r1.1
r6.5
ANNUAL
r0.2
r0.3
0.1
1.5
-1.7
r1.3
I
II
III
IV
r2.5
r0.4
r3.5
r0.5
r2.0
r1.3
r1.6
r-1.2
-0.5
r0.9
-1.9
r-1.7
11.9
-0.4
1.7
r2.6
r8.0
-4.8
-1.0
r-2.2
r9.2
r-0.8
r-1.7
r2.2
ANNUAL
r2.1
0.9
-1.2
5.1
r2.2
r3.0
2008
I
7.0
-0.1
-6.6
6.5
2.1
-0.4
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2006
2007
I
II
III
IV
r0.2
r-0.7
r-0.4
r1.8
r-0.1
r-0.6
r1.0
r0.9
r-0.3
0.1
r1.4
r-0.8
2.8
0.1
0.0
3.1
-0.9
-3.7
r-3.2
1.1
r2.7
r0.8
r0.4
r1.4
ANNUAL
r0.2
r0.3
0.1
1.5
-1.7
r1.3
I
II
III
IV
r2.1
r2.0
r2.5
r1.7
r0.5
r1.1
r0.9
r0.9
-1.6
-0.9
r-1.5
r-0.8
r4.9
6.0
5.7
r3.9
r2.5
r3.2
r3.3
r-0.1
r2.7
r3.9
r3.2
r2.1
ANNUAL
r2.1
0.9
-1.2
5.1
r2.2
r3.0
2008
I
2.8
0.4
-2.3
2.6
-1.5
-0.2
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
15
Table 6. Nonfinancial corporate sector: Productivity, hourly compensation, unit labor costs, unit profits,
and prices, seasonally adjusted
Output
Hourly
Real
Unit
Total
Unit
Implicit
Year
per allcompenhourly
Unit
nonunit
proprice
and
employee
Employee sation
compenlabor
labor
costs
fits
deflator
quarter
hour
Output hours
(1)
sation(2) costs
costs(6) (7)
(8)
(4)
---------------------------------------------------------------------------------------------------------Indexes 1992=100
2005
2006
2007
I
II
III
IV
r141.0
r141.9
r141.3
r142.1
r165.4
r167.7
r167.9
r170.0
r117.3
r118.2
r118.8
r119.7
r158.0
r158.5
r160.8
r161.8
r117.7
r117.2
r117.1
r116.7
r112.1
r111.7
r113.8
r113.9
r111.0
r111.0
r114.4
r112.3
r111.8
r111.5
r113.9
r113.5
r151.2
r160.8
r146.6
r158.8
r115.3
r115.9
r116.9
r117.5
ANNUAL
r141.6
r167.7
r118.5
r159.8
r117.2
r112.9
r112.2
r112.7
r154.4
r116.4
I
II
III
IV
r142.8
r141.9
r142.7
r143.0
r171.9
r171.5
r173.4
r174.2
120.4
r120.9
r121.5
r121.8
163.8
r163.9
r164.6
r169.3
r117.6
r116.7
r116.0
r119.8
r114.8
r115.5
r115.3
r118.4
r112.3
r114.2
r114.0
r114.7
r114.1
r115.2
r114.9
r117.4
r164.0
r164.8
r172.8
r150.4
r118.5
r119.6
r120.1
r120.3
ANNUAL
r142.6
r172.8
r121.1
r165.4
r117.5
r116.0
r113.8
r115.4
r162.9
r119.7
I
II
III
IV
r143.5
r144.2
r145.3
145.6
r174.6
r175.9
r177.5
177.8
r121.7
r121.9
r122.2
122.2
r171.4
r172.4
r173.6
175.1
r120.2
r119.5
r119.5
119.1
r119.5
r119.5
r119.5
120.3
r114.9
r115.0
r114.7
115.5
r118.2
r118.3
r118.2
119.0
r154.7
r158.5
r154.3
147.3
r121.5
r121.9
r121.4
121.5
ANNUAL
144.6
176.4
122.0
173.1
119.6
119.7
115.0
118.4
153.7
121.6
---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2005
2006
2007
I
II
III
IV
r0.4
r2.8
-1.6
r2.1
r0.6
r5.9
0.4
r5.1
0.2
3.0
2.1
3.0
2.6
r1.3
r6.1
r2.5
r0.8
r-1.6
r-0.2
r-1.4
r2.1
r-1.5
7.8
r0.5
r6.5
r0.0
r12.6
r-7.2
r3.3
r-1.1
9.1
r-1.7
r9.5
r27.8
-30.8
r37.5
r4.0
r2.0
3.4
r2.3
ANNUAL
r1.4
r3.1
1.7
3.8
0.4
r2.4
r2.7
r2.4
r6.6
r2.9
I
II
III
IV
r2.0
r-2.5
r2.4
r0.9
r4.5
r-0.8
r4.4
r1.9
r2.4
1.7
1.9
r1.1
r5.1
0.2
1.6
r12.0
r3.2
r-3.3
r-2.4
r13.8
r3.0
r2.8
r-0.8
r11.1
r-0.1
r7.2
r-0.9
r2.7
r2.2
r3.9
r-0.9
r8.8
r13.7
r1.9
r20.9
r-42.6
r3.5
r3.7
r1.7
r0.8
ANNUAL
r0.7
r3.0
2.2
3.5
0.2
r2.8
r1.4
r2.4
r5.5
r2.8
I
II
III
IV
1.2
2.1
2.9
0.9
0.9
2.9
3.7
0.9
-0.3
0.8
0.7
0.0
5.1
2.3
2.8
3.5
r1.4
r-2.3
0.1
-1.4
3.8
0.2
-0.1
2.6
0.5
0.5
-1.2
2.9
2.9
0.3
-0.4
2.7
11.8
10.4
-10.2
-16.9
3.9
1.4
-1.6
0.3
ANNUAL
1.4
2.1
0.7
4.7
1.8
3.2
1.1
2.6
-5.7
1.6
---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2005
2006
2007
I
II
III
IV
r2.5
r2.1
r0.2
r0.9
r3.7
r3.8
r1.9
r3.0
1.1
1.7
1.7
2.1
4.7
3.7
3.8
3.1
1.7
r0.8
0.0
-0.6
r2.1
r1.6
r3.6
r2.2
r1.4
r1.6
r5.0
r2.7
r1.9
r1.6
r4.0
r2.3
r11.9
r10.4
r-2.4
r7.4
r3.0
r2.6
r3.2
r2.9
ANNUAL
r1.4
r3.1
1.7
3.8
0.4
r2.4
r2.7
r2.4
r6.6
r2.9
I
II
III
IV
r1.3
r0.0
r1.0
r0.7
r4.0
r2.3
r3.3
r2.5
2.6
2.3
2.3
1.8
3.7
3.4
2.3
4.6
0.0
-0.5
-1.0
2.6
r2.4
r3.5
r1.3
r3.9
r1.1
r2.9
r-0.4
r2.2
r2.0
r3.3
r0.9
r3.4
r8.4
r2.5
r17.8
r-5.3
r2.8
r3.2
r2.8
r2.4
ANNUAL
r0.7
r3.0
2.2
3.5
0.2
r2.8
r1.4
r2.4
r5.5
r2.8
I
II
III
IV
r0.5
r1.6
r1.8
1.8
r1.6
r2.5
r2.3
2.1
1.1
0.9
0.6
0.3
4.6
5.2
5.5
3.4
r2.2
r2.4
r3.1
-0.6
r4.1
r3.5
r3.7
1.6
r2.3
r0.7
r0.6
0.7
r3.6
r2.7
r2.8
1.4
r-5.7
r-3.8
r-10.7
-2.1
r2.5
r1.9
r1.1
1.0
ANNUAL
1.4
2.1
0.7
4.7
1.8
3.2
1.1
2.6
-5.7
1.6
---------------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
16
SOURCES: Output data are from the Bureau of Economic Analysis and the Census Bureau of the U.S.
Department of Commerce; the Bureau of Labor Statistics, U.S. Department of Labor; and the Federal Reserve
Board. Compensation and hours data are from the Bureau of Labor Statistics and the Bureau of Economic
Analysis.
RELIABILITY: Productivity and cost measures are regularly revised as more complete information becomes
available. The measures are first published within 40 days of the close of the reference period; revisions appear 30
days later, and second revisions after an additional 60 days. In the business sector, the third publication (second
revision) of a quarterly index of output per hour of all persons has differed from the initial value by between –1.5
and +1.4 index points approximately 95 percent of the time. This interval is based on the performance of this
measure between the fourth quarter of 1995 and the first quarter of 2008.
Footnotes, Tables 1-6
(1) Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans.
Except for nonfinancial corporations, where there are no self-employed, data also include an estimate of
wages, salaries, and supplemental payments for the self-employed.
(2) The change for recent quarters is based on the Consumer Price Index for all urban consumers (CPI-U). The
trend from 1978-2007 is based on the Consumer Price Index research series (CPI-U-RS).
(3) Unit nonlabor payments include profits, consumption of fixed capital, taxes on production and imports less
subsidies, net interest and miscellaneous payments, business current transfer payments, rental income of
persons, and the current surplus of government enterprises.
(4) Current dollar output divided by the output index.
(5) Quarterly changes: Percent change compounded at annual rate is calculated using index numbers to three
decimal places. Indexes published in the news release are rounded to one decimal place for convenience.
Annual changes: Percent change is calculated using annual average indexes to three decimal places.
(6) Unit nonlabor costs include consumption of fixed capital, taxes on production and imports less subsidies, net
interest and miscellaneous payments, and business current transfer payments.
(7) Total unit costs are the sum of unit labor and nonlabor costs
8) Unit profits include corporate profits before tax with inventory valuation and capital consumption adjustments.
17
Appendix table 1. Manufacturing sector: Revised productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2003
2004
2005
I
II
III
IV
r157.4
r159.3
r162.7
r162.1
r137.3
r136.6
r137.3
r138.2
r87.2
r85.7
r84.4
r85.3
r154.5
r157.2
r159.5
r161.7
r120.7
r123.0
r123.8
r125.1
r98.2
r98.7
r98.0
r99.8
ANNUAL
r160.4
r137.3
r85.6
r158.2
r123.2
r98.7
I
II
III
IV
r161.6
r162.9
r164.2
r167.1
r138.3
r138.9
r139.9
r141.8
r85.6
r85.3
r85.2
r84.8
r156.8
r159.8
r163.6
r165.7
r120.3
r121.6
r123.7
r124.0
r97.0
r98.1
r99.7
r99.2
ANNUAL
r163.9
r139.7
r85.2
r161.5
r122.4
r98.5
I
II
III
IV
r170.0
r172.0
r172.9
r172.8
r143.7
r144.5
r144.7
r146.5
r84.5
r84.0
r83.7
r84.8
r166.2
r168.0
r170.4
r168.7
r123.8
r124.3
r124.1
r121.7
r97.7
r97.7
r98.6
r97.6
ANNUAL
r171.9
r144.8
r84.3
r168.3
r123.5
r97.9
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2003
2004
2005
I
II
III
IV
8.8
r4.9
r8.9
r-1.5
2.1
r-2.1
r2.1
r2.9
-6.2
r-6.7
-6.3
r4.5
12.4
7.2
5.8
5.7
r8.0
r7.9
r2.6
r4.2
3.3
r2.2
r-2.9
r7.4
ANNUAL
6.2
1.0
-4.9
7.0
4.7
0.8
I
II
III
IV
r-1.3
r3.3
r3.2
r7.4
r0.3
r1.7
r2.9
r5.3
r1.6
-1.5
r-0.2
r-1.9
-11.6
7.9
9.9
5.3
-14.6
r4.6
r6.8
r1.0
r-10.5
r4.4
r6.5
r-1.9
ANNUAL
r2.2
r1.7
-0.5
r2.1
-0.6
-0.2
I
II
III
IV
r7.1
r4.7
r2.2
r-0.2
r5.7
r2.0
r0.6
r5.3
r-1.4
r-2.5
-1.5
5.5
1.1
4.5
5.8
-3.9
r-0.7
r1.6
r-0.4
r-7.6
r-5.7
r-0.2
r3.6
r-3.8
ANNUAL
r4.9
r3.7
r-1.2
4.2
0.9
r-0.6
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2003
2004
2005
I
II
III
IV
r7.0
6.1
r6.5
r5.2
r2.3
r0.3
0.2
r1.2
-4.4
-5.4
-6.0
r-3.8
7.0
6.5
r6.9
7.7
r3.9
r4.4
4.5
r5.6
r0.0
0.4
0.3
r2.4
ANNUAL
6.2
1.0
-4.9
7.0
4.7
0.8
I
II
III
IV
r2.6
r2.3
r0.9
r3.1
r0.7
r1.7
r1.9
r2.5
-1.8
-0.5
1.0
r-0.5
1.5
1.6
2.6
2.5
-0.4
-1.1
-0.1
-0.9
-1.2
r-0.6
r1.7
r-0.6
ANNUAL
r2.2
r1.7
-0.5
r2.1
-0.6
-0.2
I
II
III
IV
r5.2
r5.6
r5.3
r3.4
r3.9
r4.0
r3.4
r3.4
r-1.3
-1.5
-1.8
0.0
6.0
5.1
4.2
1.8
2.9
2.2
0.4
-1.8
r0.7
r-0.4
r-1.1
r-1.6
ANNUAL
r4.9
r3.7
r-1.2
4.2
0.9
r-0.6
------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
18
Appendix table 2. Durable manufacturing sector: Revised productivity, hourly compensation, and unit labor costs
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2003
2004
2005
I
II
III
IV
r179.2
r181.3
r186.5
r185.7
r161.6
r160.6
r162.3
r164.1
r90.2
r88.6
r87.0
r88.4
r153.1
r155.7
r158.2
160.3
r119.6
r121.8
r122.8
r124.0
r85.4
r85.9
r84.8
r86.4
ANNUAL
r183.2
r162.2
r88.5
r156.8
r122.1
r85.6
I
II
III
IV
r184.5
r185.0
r185.9
r189.4
r164.6
r164.6
r166.1
r168.5
r89.2
r89.0
r89.3
r89.0
r152.3
r155.6
r159.7
r161.2
r116.9
r118.5
r120.7
r120.6
r82.6
r84.1
r85.9
r85.1
ANNUAL
r186.2
r165.9
r89.1
r157.2
r119.2
r84.4
I
II
III
IV
r192.6
r195.0
r197.3
r199.7
r171.4
r172.6
r174.7
r179.4
r88.9
r88.5
r88.5
r89.8
r161.3
162.7
r165.5
r163.5
r120.2
r120.3
r120.6
r118.0
r83.7
r83.4
r83.9
r81.9
ANNUAL
r196.2
r174.5
r89.0
r163.2
r119.7
r83.2
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2003
2004
2005
I
II
III
IV
r7.8
r4.7
r12.1
r-1.9
r1.1
r-2.6
r4.4
r4.4
-6.1
r-7.0
-6.9
r6.4
17.0
r7.0
6.4
5.6
r12.4
r7.7
r3.2
r4.1
r8.6
r2.3
r-5.1
r7.6
ANNUAL
7.1
1.4
-5.3
8.1
r5.8
0.9
I
II
III
IV
r-2.4
r1.0
r2.0
r7.6
r1.3
r0.0
r3.6
r5.9
r3.8
-1.0
1.5
r-1.7
-18.5
r8.9
10.9
3.8
r-21.2
r5.6
r7.8
r-0.4
r-16.5
r7.8
r8.7
r-3.6
ANNUAL
1.7
2.3
r0.7
0.2
-2.4
-1.4
I
II
III
IV
r7.1
r5.1
r4.8
r4.9
r7.1
r3.0
r4.9
r11.2
r-0.1
r-2.0
0.1
r6.0
0.3
3.4
r7.1
-4.7
r-1.4
r0.5
r0.8
r-8.4
r-6.3
r-1.6
r2.3
r-9.1
ANNUAL
r5.4
r5.2
r-0.2
3.8
0.5
r-1.4
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2003
2004
2005
I
II
III
IV
r8.4
r6.9
r7.7
r5.5
r3.1
r0.4
r0.4
r1.8
-4.9
-6.1
-6.7
-3.5
8.0
7.4
8.2
8.9
r4.9
r5.3
5.8
r6.8
r-0.4
r0.5
0.4
r3.2
ANNUAL
7.1
1.4
-5.3
8.1
r5.8
0.9
I
II
III
IV
r2.9
r2.0
r-0.3
r2.0
r1.8
r2.5
r2.3
r2.7
-1.1
0.5
2.7
r0.7
-0.5
-0.1
1.0
0.5
-2.3
-2.8
-1.7
-2.8
-3.4
r-2.1
r1.3
r-1.4
ANNUAL
1.7
2.3
r0.7
0.2
-2.4
-1.4
I
II
III
IV
r4.4
r5.4
r6.1
r5.5
r4.1
r4.9
r5.2
r6.5
r-0.3
r-0.6
-0.9
1.0
5.9
4.5
3.6
1.5
2.8
1.6
-0.1
-2.2
r1.4
r-0.9
r-2.4
r-3.8
ANNUAL
r5.4
r5.2
r-0.2
3.8
0.5
r-1.4
------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
19
Appendix table 3. Nondurable manufacturing sector: Revised productivity, hourly compensation, and unit labor costs
seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
2003
2004
2005
I
II
III
IV
r134.8
r136.4
r138.0
r137.9
r111.5
r111.0
r110.9
r111.2
r82.8
r81.4
r80.3
r80.6
r155.8
r158.6
r160.5
r162.7
r121.7
r124.1
r124.6
r125.8
r115.6
r116.3
r116.3
r117.9
ANNUAL
r136.7
r111.1
r81.3
r159.4
r124.1
r116.5
I
II
III
IV
r138.4
r140.7
r142.6
r145.1
r111.0
r112.1
r112.7
r114.0
r80.2
r79.7
r79.1
r78.6
r163.7
r166.1
r169.1
172.5
r125.5
r126.4
r127.8
r129.0
r118.3
r118.1
r118.6
r118.9
ANNUAL
r141.7
r112.4
r79.4
r167.8
r127.2
r118.5
I
II
III
IV
r147.8
r149.5
r149.6
r147.7
r115.1
r115.4
r114.3
r114.0
r77.9
r77.2
r76.4
r77.2
r173.4
r176.2
r177.6
r176.4
r129.2
r130.3
r129.3
r127.2
r117.3
r117.9
r118.6
r119.4
ANNUAL
r148.7
r114.7
r77.2
175.9
129.0
r118.3
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
2003
2004
2005
I
II
III
IV
r9.7
r4.9
r4.8
-0.2
r3.0
r-1.7
r-0.7
1.2
-6.2
-6.2
-5.2
r1.4
r4.1
7.5
4.8
5.5
r0.1
r8.2
r1.6
r4.0
r-5.1
r2.5
r0.0
r5.7
ANNUAL
4.8
0.4
-4.2
5.1
2.8
0.3
I
II
III
IV
1.4
r6.7
r5.6
r7.2
r-0.8
r4.1
r2.3
r4.7
r-2.1
-2.4
r-3.1
r-2.3
2.5
6.0
r7.6
r8.2
r-0.9
r2.8
r4.6
r3.8
r1.1
r-0.6
r1.9
r0.9
ANNUAL
3.6
1.2
r-2.3
5.3
r2.5
r1.7
I
II
III
IV
r7.8
r4.6
r0.4
r-5.1
r4.0
r0.9
r-3.9
r-0.8
r-3.6
-3.5
-4.3
4.5
2.2
6.6
3.1
-2.5
r0.4
r3.6
r-3.0
r-6.3
r-5.2
r1.9
r2.6
r2.7
ANNUAL
r4.9
r2.0
-2.8
4.8
1.4
r-0.1
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
2003
2004
2005
I
II
III
IV
5.0
4.6
4.6
4.8
1.3
0.1
-0.3
r0.4
-3.6
r-4.3
-4.7
-4.1
5.2
5.2
4.6
5.5
r2.2
r3.1
2.3
r3.4
0.2
0.5
0.0
r0.7
ANNUAL
4.8
0.4
-4.2
5.1
2.8
0.3
I
II
III
IV
2.7
r3.1
r3.3
r5.2
r-0.5
r0.9
r1.7
r2.6
-3.1
-2.1
-1.6
r-2.5
5.1
4.7
5.4
6.1
3.2
r1.9
2.6
2.6
2.3
r1.5
r2.0
r0.8
ANNUAL
3.6
1.2
r-2.3
5.3
r2.5
r1.7
I
II
III
IV
r6.8
r6.3
r5.0
r1.8
r3.8
r3.0
r1.4
r0.0
-2.9
r-3.1
-3.4
r-1.8
6.0
6.1
5.0
2.3
2.9
3.1
1.2
-1.4
r-0.8
r-0.2
r0.0
r0.4
ANNUAL
r4.9
r2.0
-2.8
4.8
1.4
r-0.1
------------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
Appendix table 4.
Indexes 1992=100
20
Manufacturing sector: Productivity, hourly compensation, and unit labor costs
Real
Output per
Hours
CompensacompensaUnit
hour of
of all
tion per
tion per
labor
Year
all persons
Output
persons
hour (1)
hour (2)
costs
----------------------------------------------------------------------------------------------1987
r89.1
r92.4
r103.8
81.3
r98.0
r91.3
1988
r90.9
r97.2
r106.9
84.1
97.8
r92.5
1989
r91.9
r98.8
r107.6
86.6
96.6
r94.3
1990
1991
1992
1993
1994
r93.9
r96.3
100.0
r102.6
r106.2
r98.5
r96.8
100.0
r103.9
r110.1
r104.9
r100.5
100.0
r101.3
r103.7
r90.5
95.6
100.0
r102.0
r105.3
r96.1
98.0
100.0
r99.6
r100.6
r96.4
r99.2
100.0
r99.5
r99.2
1995
1996
1997
1998
1999
r111.0
r115.0
r121.3
r127.9
r133.7
r115.9
r119.8
r128.7
r135.3
r140.4
r104.4
r104.2
r106.0
105.8
r105.1
107.3
109.3
r112.2
r118.7
r123.5
100.1
99.4
r99.8
r104.2
r106.1
r96.7
r95.1
r92.5
r92.8
r92.4
2000
2001
2002
2003
2004
r139.1
r141.2
r151.0
r160.4
r163.9
r144.2
r136.9
r136.0
r137.3
r139.7
r103.7
r96.9
r90.1
r85.6
r85.2
r134.7
r137.8
r147.8
r158.2
r161.5
r112.0
r111.5
r117.7
r123.2
r122.4
r96.9
r97.6
r97.9
r98.7
r98.5
2005
r171.9
r144.8
r84.3
r168.3
r123.5
r97.9
2006
r173.8
r147.5
r84.9
r173.0
r122.8
r99.5
2007
r179.7
r149.9
r83.4
r182.3
r125.9
r101.4
---------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
21
Appendix table 5. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs
Indexes 1992=100
Real
Output per
Hours
CompensacompensaUnit
hour of
of all
tion per
tion per
labor
Year
all persons
Output
persons
hour (1)
hour (2)
costs
----------------------------------------------------------------------------------------------1987
r88.5
r94.2
r106.5
r81.3
r98.0
r91.8
1988
r90.4
r100.0
r110.6
83.6
97.3
r92.5
1989
r91.1
r101.1
r110.9
r85.9
r95.8
r94.3
1990
1991
1992
1993
1994
r92.9
r94.6
100.0
r103.9
r109.1
r99.8
r96.0
100.0
r105.4
r114.2
r107.4
r101.4
100.0
r101.4
r104.7
r89.5
r94.9
100.0
r101.9
r105.5
r95.0
r97.3
100.0
r99.4
r100.8
r96.3
r100.3
100.0
r98.0
r96.7
1995
1996
1997
1998
1999
r115.9
r122.1
r130.5
r140.6
r150.7
r123.3
r131.0
r144.1
r156.1
r166.5
r106.3
r107.3
r110.4
r111.0
r110.5
r106.7
r108.1
r110.6
r117.1
r122.5
r99.6
r98.2
r98.4
r102.7
r105.2
r92.0
r88.5
r84.7
r83.3
r81.3
2000
2001
2002
2003
2004
r158.1
r159.0
r171.0
r183.2
r186.2
r173.6
r162.1
r159.9
r162.2
r165.9
r109.8
r101.9
r93.5
r88.5
r89.1
r134.3
r136.4
r145.0
r156.8
r157.2
r111.6
r110.3
r115.4
r122.1
r119.2
r84.9
r85.8
r84.8
r85.6
r84.4
2005
r196.2
r174.5
r89.0
r163.2
r119.7
r83.2
2006
r200.4
r180.3
r90.0
r168.7
r119.8
r84.2
2007
r209.4
r184.5
r88.1
r178.1
r123.0
r85.1
---------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics
22
Appendix table 6. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs
Indexes 1992=100
Real
Output per
Hours
CompensacompensaUnit
hour of
of all
tion per
tion per
labor
Year
all persons
Output
persons
hour (1)
hour (2)
costs
----------------------------------------------------------------------------------------------1987
r91.4
91.1
r99.7
r80.8
r97.4
r88.4
1988
r93.2
94.5
r101.4
r84.2
r98.0
r90.3
1989
r94.0
96.4
r102.5
r87.1
r97.2
r92.7
1990
1991
1992
1993
1994
r96.0
r98.3
100.0
r101.2
r103.5
97.1
r97.4
100.0
r102.4
105.7
r101.1
r99.1
100.0
r101.2
r102.1
91.7
r96.5
100.0
r102.2
r104.7
97.4
r99.0
100.0
r99.8
100.1
r95.6
r98.2
100.0
r101.1
r101.2
1995
1996
1997
1998
1999
r106.2
r108.4
r112.8
r115.8
r116.9
r107.7
107.8
112.2
113.4
113.3
r101.5
r99.4
r99.5
r97.9
r96.9
r107.8
r110.8
r114.1
r120.3
r123.6
r100.6
r100.7
r101.5
r105.6
r106.2
r101.5
r102.2
r101.1
r103.9
r105.7
2000
2001
2002
2003
2004
r120.7
r123.4
r130.5
r136.7
r141.7
114.1
110.4
r110.7
r111.1
r112.4
r94.5
r89.4
r84.8
r81.3
r79.4
r133.2
r138.6
r151.6
r159.4
r167.8
r110.8
r112.1
r120.7
r124.1
r127.2
r110.4
r112.3
r116.1
r116.5
r118.5
2005
r148.7
r114.7
r77.2
175.9
129.0
r118.3
2006
r148.9
r115.1
r77.2
r178.6
r126.8
r119.9
2007
r152.0
r116.0
r76.3
r187.7
r129.7
r123.5
---------------------------------------------------------------------------------------------See footnotes following Table 6.
May 7, 2008
r=revised
Source: Bureau of Labor Statistics